Never Too Small to Go Global

Giving small businesses the tools they need to export their goods and services and create jobs is an important part of the U.S. Small Business Administration’s mission. With 95 percent of the world’s consumers living outside of the United States, exporting gives small businesses the opportunity to reach new markets, increase sales and create opportunities. Many U.S. businesses have already strategically connected to new foreign market opportunities. In fact, according to the Census Bureau, U.S. exports are up 33 percent since 2009. The number of companies exporting is up 6 percent, to almost 300,000. If your company is successful in the domestic market but has yet to explore exporting, SBA can help your company go global.

SBA has a great online tool called Take Your Business Global to assess whether your business is ready for international trade at. Take a look at sba.gov/content/explore-exporting. The free, self-paced course covers everything from letters of credit and export financing to legal considerations and shipping logistics and even includes a readiness assessment tool.

Once you’ve determined your company is ready to export, SBA and our resource partners are available to help you take the next steps. In addition to our Small Business Development Centers, SCORE Chapters and Women’s Business Centers, SBA also helps fund U.S. Export Assistance Centers. Toni Corsini, USEAC regional manager in the New York City office, is as close as a phone call at 212-809-2645, or email at toni.corsini@sba.gov.

In addition, SBA has recently revamped its International Trade Loan program, resulting in a dramatic increase in the number of loans (106 percent) and dollar value (207 percent) over last year. The International Trade Loan allows small manufacturers and businesses to expand their facilities or purchase equipment to manufacture goods that will be sold in the international market. Even if they don’t export directly, small businesses that sell to an Export Trading Company or an Export Management Company may also qualify.

Some small businesses may lack necessary export working capital to support their export sales. That is where SBA’s Export Working Capital program can make the difference. SBA provides lenders with up to a 90 percent guaranty on export loans as a credit enhancement, so that the lenders will make the necessary credit available.The SBA Export Express program allows for financing of up to $500,000 and is the simplest export loan product we offer, allowing participating lenders to use their own forms, procedures and analyses.

Whether your firm needs access to credit or help to determine potential markets, consider SBA loan programs and free counseling services to achieve success in exporting or any of your business goals. For more information about the SBA, our international trade programs and services, please visit sba.gov/OIT or contact our team in the Syracuse District Office at 471-9393.

Bernard J. Paprocki is director of the Syracuse District for the Small Business Administration.